Herve Renard, who was shortlisted to take over the Super Eagles, has returned to his old post as head coach of Saudi Arabia.
Renard and his agents met variously with top NFF officials over the vacant Super Eagles.
He later told confidants that Nigeria do not have the money to pay him.
The Frenchman, who led both Zambia and Cote d’Ivoire to win the AFCON, was first in charge of Saudi between 2019 and 2023 during which time he guided them to the 2022 World Cup in Qatar.
Renard, 56, has replaced Roberto Mancini.
His immediate task will be 2026 World Cup qualifiers against Australia and Indonesia next month.